Alibaba Group (NYSE:BABA) Trading 2% Higher

Alibaba Group Holding Limited (NYSE:BABA)’s stock price traded up 2% during mid-day trading on Wednesday . The stock traded as high as $74.21 and last traded at $73.97. 6,126,259 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 17,969,154 shares. The stock had previously closed at $72.51.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Susquehanna reduced their target price on Alibaba Group from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday, February 8th. Robert W. Baird cut their price target on Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group lowered their target price on Alibaba Group from $121.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and a consensus target price of $112.91.

Alibaba Group Stock Performance

The company has a market cap of $189.37 billion, a P/E ratio of 13.77 and a beta of 0.46. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average price of $73.11 and a two-hundred day moving average price of $75.57.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). The company had revenue of $260.35 billion for the quarter, compared to analyst estimates of $260.26 billion. Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 EPS. On average, research analysts predict that Alibaba Group Holding Limited will post 7.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

A number of large investors have recently modified their holdings of the business. Princeton Global Asset Management LLC bought a new position in shares of Alibaba Group in the 3rd quarter valued at $26,000. GPS Wealth Strategies Group LLC raised its position in Alibaba Group by 116.7% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 175 shares during the last quarter. Baystate Wealth Management LLC raised its position in Alibaba Group by 184.6% during the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 216 shares during the last quarter. First Command Advisory Services Inc. bought a new position in Alibaba Group during the 3rd quarter worth $30,000. Finally, Milestone Investment Advisors LLC bought a new position in Alibaba Group during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.